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A Third of 2023 Crypto Hacks Traces Back to North Korea, Says TRM Labs

Fintech News

Moreover, the DPRK has been continually evolving its money laundering tactics to evade international law enforcement. Even after Sinbad was sanctioned by OFAC in November 2023, they continued to explore other tools for laundering. TRM Labs’ report said, “With nearly US$ 1.5

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FIS Harmonizes Payments With Launch of Unified Money Movement Hub

Fintech Finance

Gareth Lodge, principal analyst at Celent commented, “Payments are the one thing that unite every customer at every bank, and as their expectations continue to change, they expect more. While our Dimensions research found that 45% of U.S.

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Airbase Demonstrates the Transformational Power of AI with the Launch of Touchless Accounts Payable

Fintech Finance

Yet, despite the availability of AP automation solutions, finance teams continue to struggle with manual, time-consuming processes that prevent them from focusing on high-value strategic work, as highlighted by IDC. With this launch, Airbase continues to solidify its position as the leading provider of AI-powered procure-to-pay solutions.

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FinCEN Announces New Digital Innovation Officer/Deputy Director

PYMNTS

Blanco continued, “He brings a range of public and private sector experience that will help FinCEN proactively engage with industry and government partners to confront emerging threats and capitalize on diverse opportunities in the financial and national security spaces. He previously served as FinCEN’s chief of strategic advancement.

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MUFG Bank Enters Consent Order With OCC Over AML Compliance

PYMNTS

The office recently examined the branches for BSA/AML and Office of Foreign Assets Control (OFAC) sanctions compliance. The consent order doesn’t specifically identify any illegal transactions or OFAC violations, and it doesn’t come with any monetary penalty. MUFG Bank said the OCC recognized improvements the bank made to its U.S.

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e.l.f. Compliance Settlement Highlights Third-Party Supply Chain Risks

PYMNTS

’s importation of those goods via China was found to be in violation of the Treasury’s Office of Foreign Assets Control (OFAC) North Korea Sanctions Regulations. ’s recent settlement emphasizes the continued challenge companies face in managing regulatory risks down their supply chains , too. Importantly, e.l.f.

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Regulators Detail Banking Rules For Hemp Firms

PYMNTS

Under the BSA and related anti-money laundering laws, FIs must have compliance and monitoring programs, establish a process for SAR and screen against Office of Foreign Assets Control (OFAC) and other government lists.